August 16, 2018: Wittur Group continues clear revenue and earnings growth in the first six month 2018
Wittur Group continues clear revenue and earnings growth in the first six month 2018
Wiedenzhausen, August 16, 2018 – Wittur Group (ISIN: XS1188024548, XS1188025438) achieved consolidated revenues of EUR 396.9 million for the first six months of 2018 which is a growth of 2.4% over the prior year period (6M 2017: EUR 387.6 million). At comparable exchange rates the growth was 6.3%.
Wittur’s European business contributed 53.3% or EUR 211.5 million to Group revenue in the first six months of 2018 and contributes a positive increase of 0.9% over prior year’s figure of EUR 209.5 million. Good performance is well distributed throughout Europe where our business units in Austria, Slovakia and Italy, amongst others, generated growth.
Asian operations generated EUR 152.8 million or 38.5% of revenue in the period under review, which was a strong growth up 7.8% over the previous year’s figure of EUR 141.7 million and a growth of 12.1% at constant currency. This revenue growth was significantly supported by China, but also India and Australia.
The Rest of World region showed a revenue decrease of 10.4% to EUR 32.6 million in the first six months of 2018 (6M 2017: EUR 36.4 million) which is mainly driven by Turkey. At comparable exchange rates the growth was up 12.6% over prior year.
Earnings before interest, taxes, depreciation and amortization before exceptional items (EBITDA Adjusted) of the Wittur Group grew by 8.2% to EUR 57.8 million in the period under review (prior year: EUR 53.4 million), driven by the underlying revenue growth on the back of a strong recovery of Austria and Slovakia compared to prior year, and by overhead cost improvements as a result of the functional excellence program, which was initiated in the previous year. The EBITDA Adjusted margin was 14.6%.
Net cash flow before financing activities in the six months of 2018 of Wittur Group was EUR 28.9 million.
Wittur Group’s net financial debt was at EUR 630.9 million on June 30, 2018. The corresponding leverage ratio, calculated as net financial debt to LTM EBITDA Adjusted, was 5.68x.
The financial results for the first six month 2018 of Wittur International Holding are published.
A conference call for investors and analysts will take place on August 16, 2018 at 2 p.m. CEST.
Dial-in numbers & Personal PIN code:
Participants must please register online under this link to receive the dial-in numbers and their personal PIN code.
The online slide presentation will be shown in sync under this weblink.
About Wittur
Founded in 1968, Wittur is one of the world’s leading independent elevator components manufacturers with an extensive global manufacturing footprint and sales network and a broad range of products. Its product offering features a large range of components for new elevator manufacturing and sourcing, for spare parts and for modernization and upgrades. Components made by Wittur span from sophisticated mechatronic components for elevator cabin and landing doors (including the associated opening mechanisms) to other critical components such as gearless drives, slings, safety gears and cars.
In 2016, Wittur further expanded its global reach and its portfolio with the acquisition of the Sematic Group. Sematic S.p.A. and its subsidiaries, an Italian group founded in 1959, added a complementary product offering including complete elevator solutions, highly customised doors, electronic components and cabins. Installation of elevators and maintenance services are not part of the business. The Wittur Group has a work force of around 4,500 employees and conducts business in more than 50 countries. It is majority owned by funds managed by Bain Capital.
For more information on the company, please visit www.wittur.com.
Contacts
Roman Istanbuli
Corporate Director Financing, Treasury & Investor Relations
Wittur Holding GmbH
Rohrbachstraße 26-30
85259 Wiedenzhausen | Germany
Phone: +49(81 34) 18 - 136
Mail: roman.istanbuli@wittur.com
Christoph Kaml
CFO Wittur Group
Wittur Holding GmbH
Rohrbachstraße 26-30
85259 Wiedenzhausen | Germany
Phone: +49(81 34) 18 - 101
Mail: christoph.kaml@wittur.com
- Wittur Group 6M 2018 consolidated revenues up 2.4% to EUR 396.9 million
- Revenue growth at constant currency up 6.3%
- Consolidated EBITDA Adjusted increased by 8.2% to EUR 57.8 million
- Net cash flow before financing activities at EUR 28.9 million
- Wittur Group net financial debt at EUR 630.9 million with a leverage ratio of 5.68x
Wiedenzhausen, August 16, 2018 – Wittur Group (ISIN: XS1188024548, XS1188025438) achieved consolidated revenues of EUR 396.9 million for the first six months of 2018 which is a growth of 2.4% over the prior year period (6M 2017: EUR 387.6 million). At comparable exchange rates the growth was 6.3%.
Wittur’s European business contributed 53.3% or EUR 211.5 million to Group revenue in the first six months of 2018 and contributes a positive increase of 0.9% over prior year’s figure of EUR 209.5 million. Good performance is well distributed throughout Europe where our business units in Austria, Slovakia and Italy, amongst others, generated growth.
Asian operations generated EUR 152.8 million or 38.5% of revenue in the period under review, which was a strong growth up 7.8% over the previous year’s figure of EUR 141.7 million and a growth of 12.1% at constant currency. This revenue growth was significantly supported by China, but also India and Australia.
The Rest of World region showed a revenue decrease of 10.4% to EUR 32.6 million in the first six months of 2018 (6M 2017: EUR 36.4 million) which is mainly driven by Turkey. At comparable exchange rates the growth was up 12.6% over prior year.
Earnings before interest, taxes, depreciation and amortization before exceptional items (EBITDA Adjusted) of the Wittur Group grew by 8.2% to EUR 57.8 million in the period under review (prior year: EUR 53.4 million), driven by the underlying revenue growth on the back of a strong recovery of Austria and Slovakia compared to prior year, and by overhead cost improvements as a result of the functional excellence program, which was initiated in the previous year. The EBITDA Adjusted margin was 14.6%.
Net cash flow before financing activities in the six months of 2018 of Wittur Group was EUR 28.9 million.
Wittur Group’s net financial debt was at EUR 630.9 million on June 30, 2018. The corresponding leverage ratio, calculated as net financial debt to LTM EBITDA Adjusted, was 5.68x.
The financial results for the first six month 2018 of Wittur International Holding are published.
A conference call for investors and analysts will take place on August 16, 2018 at 2 p.m. CEST.
Dial-in numbers & Personal PIN code:
Participants must please register online under this link to receive the dial-in numbers and their personal PIN code.
The online slide presentation will be shown in sync under this weblink.
About Wittur
Founded in 1968, Wittur is one of the world’s leading independent elevator components manufacturers with an extensive global manufacturing footprint and sales network and a broad range of products. Its product offering features a large range of components for new elevator manufacturing and sourcing, for spare parts and for modernization and upgrades. Components made by Wittur span from sophisticated mechatronic components for elevator cabin and landing doors (including the associated opening mechanisms) to other critical components such as gearless drives, slings, safety gears and cars.
In 2016, Wittur further expanded its global reach and its portfolio with the acquisition of the Sematic Group. Sematic S.p.A. and its subsidiaries, an Italian group founded in 1959, added a complementary product offering including complete elevator solutions, highly customised doors, electronic components and cabins. Installation of elevators and maintenance services are not part of the business. The Wittur Group has a work force of around 4,500 employees and conducts business in more than 50 countries. It is majority owned by funds managed by Bain Capital.
For more information on the company, please visit www.wittur.com.
Contacts
Roman Istanbuli
Corporate Director Financing, Treasury & Investor Relations
Wittur Holding GmbH
Rohrbachstraße 26-30
85259 Wiedenzhausen | Germany
Phone: +49(81 34) 18 - 136
Mail: roman.istanbuli@wittur.com
Christoph Kaml
CFO Wittur Group
Wittur Holding GmbH
Rohrbachstraße 26-30
85259 Wiedenzhausen | Germany
Phone: +49(81 34) 18 - 101
Mail: christoph.kaml@wittur.com
自1977年来,威特就开始为电梯行业提供多功能、高品质的轿厢门。设计灵活,加上通过了一系列认证,使威特层门能够适应各种应用。有多种表面装饰和规格,因此能适合各种环境:从住宅到高档写字楼、从外部设施到豪华的水上项目、从工业建筑到医院。
Since 1977 Wittur has been providing the lift industry with versatile and high-quality doors. More than 30 years later Wittur is the leading company in the lift doors segment, with state-of-the-art technical solutions and unparalleled product range. Regardless of whatever your lift requires - a round door with panoramic panels rather than a straight or a folding one - Wittur can supply the best solution for your needs.
Wittur offers a wide range of car and counterweight frames. Modularly conceived, these components are very flexible in terms of rated load, height and width. The wide range of accessories includes safety gears, suspension pulleys, compensation chain and travelling cable hangers, allowing configurations suitable for different shaft layouts, lift designs and rated speeds. Wittur can also supply special frames for tailored projects.
创新的解决方案研究和严格的产品质量控制是威特安全部件的主要特色。产品系列包括不定向/双向同步和渐进式安全钳。也可提供上升轿厢超速保护装置。
According to EN81-1/2 A3 and EN81-21 A1 (new lifts in existing buildings), new lifts installed after January 1st 2012 must be equipped with a system to prevent a car moving away from the floor with the landing door not in the locked position and the car door not in the closed position.
所有井道附件对于保证电梯的正常运行和使用寿命都是至关重要的。这正是威特提供以下各种附件的原因:
Since 1977 Wittur supplies the lift industry with versatile and high-quality doors.
Since 1977 Wittur supplies the lift industry with versatile and high-quality doors.
Since 1977 Wittur supplies the lift industry with versatile and high-quality doors.
